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Are you missing out on valuable insights from your voice data? - Business Systems UK Ltd - ContactCenterWorld.com Blog

Are you missing out on valuable insights from your voice data?

Voice will always be a powerful data set for organisations. Voice conveys context, emotion and sentiment providing you with actionable intelligence. Voice is powerful. However, IT leaders could be missing a trick when it comes to this, as not all organisations are recording every interaction and for some the majority of voice data, is not easily accessible.

Collecting voice data is half the battle. Tapping into insights which voice data can provide you with is a whole other beast. According to a *recent survey, a staggering 92 per cent of organisations are capturing voice data but are doing little to make use of it.


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Here’s a crash course into how you can start enhancing the use of voice data in your organisation.

Consolidating your data

Often, call recording data does not all reside in one place. This is extremely common when it comes to large organisations with multiple offices (including global ones) and multiple voice recorders from multiple manufacturers. Over the years, it’s common for an organisations voice infrastructure to become complicated. Sometimes, it becomes a mix of on premise and cloud systems. Some of these on premise systems might be old and no longer supported by the manufacturer in terms of maintenance, software updates and bug fixes. This is what is termed as a ‘legacy call recording system’. The hotchpotch of different systems and different ages means data becomes siloed, hard to access and just plain awkward.

So how can you make sure all your existing voice data is being collected properly? Firstly, consider investing in vendors who have an open API methodology. An open API will give you the flexibility to interact with your data however you see fit.

For example, we helped one large bank automate the process of extracting data from multiple call recording systems into a separate system for the purpose of analytical reporting. This was done all whilst keeping the data in its original file structure and format. This meant the Bank had the ability to feed their valuable voice data into an application of their choice and were not restricted to one provider which would have limited their capabilities in future; they were able to utilize their existing applications and the API was seen as more of a ‘enabler’ of their existing infrastructure.

So to conclude point one, remember: Using a vendor who has an open API approach means the possibilities are endless for what you can do with your existing data. True data management is more about just storing the data. It’s now about being able to easily access and truly analyse the data for those golden nuggets of information that will drive and transform change in the organisation.

Tapping into the insight

Let’s go back to our original point – collecting voice data is half the battle. Tapping into the insights which voice data can provide you with is a whole other story. Analysing data and drawing conclusions from it to better your processes, operational efficiency and overall business management is now imperative to most organisations if they want to stay one step ahead.

One way you can do this is to mine through large volumes of inbound recorded communications across multiple channels. If you’re still doing this manually, by listening to samples of calls it’s almost impossible. And painful. And lastly, it’s not truly reflective of what is happening across all interactions.

By using Interaction Analytics however, calls are analysed using phonetics, transcription or a combination of both -based analytics. Much like what Google does for the internet, speech and Interaction Analytics can do for voice data. A neural phonetic Interaction Analytics solution can combine speech recognition (transcribing communications into text) and phonetic indexing (looking for defined sounds and matching them to target words or phrases in a phonetic index file) into a single powerful engine. This engine allows you to pick up on targeted business insight. Let’s not forget that these solutions can also be agnostic (can be used across any voice or recording platform)  designed to enable analysis across any interaction be that voice or text-based.

Although getting the voice into these systems can often be the most challenging part – the good news is that we have solved this issue many times for many customers.

As technology develops, sentiment analysis, once a tricky data set to analyse, is now also picked up with these solutions. Sentiment analysis means picking up on acoustic indicators such as pitch, tone, jitter, cross-talk (interruption), laughter and language spoken. Speech and Interaction Analytics technology provides context behind the interactions, acting as a powerful tool to unlock valuable voice data in any organisation.

Let’s not forget that Speech and Interaction Analytics can also uncover valuable insight when it comes to compliance in an organisation. Many financial organisations today have implemented this technology to help with the never-ending challenge of compliance offering features such as:

  • Preventing issues from escalating by providing the necessary means to search proactively through recordings for ‘high risk’ keywords and phrases
  • Using Boolean operators (e.g. and, or and not) users can include multiple search terms in a single query. This means compliance teams can easily check if compulsory statements are being read for example
  • Supporting compliance by quickly finding and retrieving calls requested by regulatory bodies
  • Demonstrating a proactive approach to managing risk
  • Enabling compliance officers to look for suspicious transactions that they didn’t know were there to begin with

Voice Data is the way forward

Organisations that make the most out of their voice data are the ones who will remain one step ahead. By unlocking the insight behind these communications, operational efficiency, customer satisfaction and compliance adherence can also be unlocked. Tapping into the potential of voice data can be limitless. Due to the multiplication of communication channels we now have, voice can sometimes be forgotten about. But let’s not forget that as a society dependent on communication, voice is the fundamental principle behind all of these.

*Survey conducted by Sapio Research for Red Box, asking 588 IT Directors or C-level executives responsible for IT across UK, US and Singapore.

Source: https://www.businesssystemsuk.co.uk/blog/2019/08/28/are-you-missing-out-on-valuable-insights-from-your-voice-data/

Publish Date: August 28, 2019 5:00 AM


2021 Buyers Guide IVR

 
1.) 
Call Center Studio

Call Center Studio
Call Center Studio is the world’s first call center built on Google and is one of the most secure and stable systems with some of the industry’s best reporting. It is one of the most full-featured enterprise grade systems (with the most calling features, one of the best call distribution, outbound dialing features and integrations—including IVR, AI Speech Recognition, blended inbound/outbound calling and includes Google’s new Dialogflow and Speech API. Call Center Studio is the absolute easiest to use (with a 10 minute setup), and is the price performance leader with lower equipment cost and less setup time.

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VIRTUAL PBX
Get the benefits of an expensive, on-premise telephone system without the high price tag and annoying maintenance.

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eGain Corporation

eGain SmartIVR
eGain SmartIVR is an over-the-top solution to modernize IVR systems. Businesses can offer smartphone callers an easy choice to resolve queries via digital messaging and intelligent self-service. And they can optimize the IVR experience with end-to-end analytics.

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Virtual Switchboard
Megacall provides a fully customised Virtual Switchboard software for all companies (including IVR service). No matter the size of your business, our services adapt to the needs of each client.

Are you looking for a more effective way to communicate with your customers? Discover the advantages of using the IVR and how it can help in your communications.

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MightyCall's IVR that will increase your business’s efficiency at a fraction of the cost of a secretary. Your auto-attendant is designed to:
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CenterWare
Provide your customers with an effortless self-service experience. Easily create menus using predefined or custom prompts and data dips and route customers to live agents when needed.

Enable your customers to make payments and access information 24/7 at their convenience. Request a quote or live demo today.

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SPEED
The SPEED solution solves for service level issues while cost optimizing the environment with automation.

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IVR Edge
IVR Edge is a high performance, robust and scalable ivr system that works on various leading hardware such as Dialogic, Keygoe and Synway etc. It can handle the simplest of simple to the most complex of requirements to when it come to creating an IVR. Integration with any 3rd party database, be it for banking, telecom, insurance, travel, payment gateway etc can be handled with ease. Ideally suited to create Hosted IVR and virtual patching solutions with scalabilities that can range from 4 to 128 E1’s per setup with voice recording and CDR functionality. Integration with leading text to speech (TTS) and speech recognition ASR engines add to the flexibility and functionality.
 



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